The Office Market in Bucharest in the 1st Semester of 2024

THE TRADING LEVEL IN S1 2024

Rent transactions by category

In S1 2024, the total office area rented in Bucharest reached 160.000 sqm.
Of those, 54% were (Pre) Lease & Expansion transactions, while 46% were Renewal & Renegotiation transactions in the current premises.

Download the ESOP study_The Office Market in S1 2024

(Pre)Leases & Expansions, by area

The most sought-after area of Bucharest was Center-North, with 52% of companies’ preferences for renting new spaces, followed by Center-West and North, each with 15%.

(Pre) Leases si Expansions in S1 2024, by field of activity

The distribution of (Pre)Leases and Expansion transactions by fields of activity was particularly balanced in 2024. The most active tenants in Bucharest were the companies from the Medical & Pharma and IT & Communication fields, each with 17% of the newly leased area, followed by companies from the Industrial & Manufacturing sector with 16% and Financial Services with 10% of the leased area.

Relative stability in the office market

Both (Pre) Leases & Expansions and Renewal transactions remained at values close to those of S1 2023.
This first semester of 2024, similar to S1 2023, sees the maintenance at a high level, of Renegotiations / Renewals transactions, many companies still maintain a prudent behavior, unlike the year 2022, when (Pre)Leases and Expansions transactions dominated in total transactions.

The Main Transactions in S1 2024, in Bucharest

Company Surface
(sqm)
Building  

Area

 

Location

Genesis College 10,000 Petrom City North Straulesti
Dr.Max 6,600 J8 Office Park Central-North Expozitiei-Jiului
Goodyear 4,000 Floreasca Park Central-North Barbu Vacarescu
Sanador 3,100 Buzesti 85 Central-North Victoriei
Scoala Evrika 2,500 Sema Parc Central-West Splaiul Independentei
Ahold 2,170 Timpuri Noi Square Central-South Timpuri Noi

NEW SPACE DELIVERIES. THE AVAILABLE SPACES

In Q1 2024 no new office project was delivered, and this year will record the lowest level of delivered office spaces, namely 16,000 sqm within the AFI Loft Project.

Although in 2024 a period of lull in the development of office buildings in Bucharest is foreseen, companies that are considering changing or expanding their headquarters have extensive areas in high-class office buildings already in use and have office spaces available.

Relocation opportunities in 2024

A special opportunity for companies evaluating relocation in 2024 is represented by the existence of “turnkey” office spaces, fully furnished, which are available for rent either from rental companies that have surplus areas or directly from the owners of the office buildings.

Esop Parteners in time

ESOP’s portfolio includes, in addition to office buildings for rent in Bucharest, office spaces for sale in Bucharest, industrial parks and warehouses for rent, as well as office spaces for rent in the main cities of the country.

If you would like more information, please contact the ESOP team by filling this brief form, or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!


Mirela Raicu

Founder Partner of ESOP Consulting CORFAC International, coordinator of the Corporate Office Spaces division, with 18 years of experience in real estate consulting and entrepreneurship.



0% Tenant fee!
Thumb
260 - 14.000 sqm

J8 Office Park Bucharest

Presei Libere, Bucharest
  • Price on request!
0% Tenant fee!
Thumb
400 - 16.915 sqm

Sema Parc Bucharest

Grozavesti, Bucharest
  • 12,50 - 14,50€/sqm, negotiable
0% Tenant fee!
Thumb
380 - 26.000 sqm

Timpuri Noi Square

Timpuri Noi, Bucharest
  • 18,50€/sqm, negotiable
0% Tenant fee!
Thumb
500 - 17.880 sqm

Floreasca Park

Barbu Vacarescu, Bucharest
  • 15,50€/sqm, negotiable

Postari similare

The Office Market in Bucharest in the 3rd Quarter of 2024


THE TRADING LEVEL IN Q3 2024 Rent transactions by Category In Q3 2024, the total office area rented in Bucharest reached 78.590 sqm. Download the ESOP study_The Office Market in Q3 2024 Out of those, 48% were (Pre) Lease & Expansion transactions, while 52% were Renewal & Renegotiation transactions in the current premises. (Pre) Leases […]


Read more

The Office Market in Bucharest in the 1st Quarter of 2024


THE TRADING LEVEL IN Q1 2024 In Q1 2024, a total area of 87,316 sqm of modern office spaces were rented in Bucharest, of which approx. 52,000 sqm, representing 60%, were Renewal & Renegotiation transactions in the current premises, while 35,000 sqm, meaning 40% were (Pre) Lease & Expansion transactions. The most sought-after area of […]


Read more

The Office Market in Bucharest at the Beginning of 2024


2023 OVERVIEW 2023 brought deliveries of 130,700 sqm to the office market, which represented a 22% increase compared to the previous year. At the same time, however, compared to the average deliveries in the last 5 years (228,000 sqm), 2023 recorded a decrease of 43%. ✓ 68% of the 2023 deliveries took place in the […]


Read more